Deed Of Trust Modification With Agreement In Philadelphia

• State: Multi-State
• Category: Real Estate - Mortgages and Deeds of Trust
• County: Philadelphia
• Control #: US-00183
• Format: Word; Rich Text

Description

The Deed of Trust Modification with Agreement in Philadelphia is a legal document that modifies an existing mortgage or deed of trust to secure a debt as outlined in the Modification Agreement. It is effective as of a specified date and involves parties including the Borrower, Co-grantor(s), and Lender. Key features include the renewal and extension of the lien on the property, amendment of existing security agreements, and clear terms regarding payment schedules, interest rates, and default provisions. The document specifies the obligations of all parties and provides for the rights of transferees under the Uniform Commercial Code. Filling out the document requires accurate personal and property information as well as understanding of sectioned terms related to payments and responsibilities. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a systematic approach to securing and modifying financial obligations while ensuring compliance with state laws. This form can be utilized in scenarios where borrowers need to adjust their loan terms or modify the security instrument associated with their property.